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scott is off. i'm jeff glor. five days before the fiscal deadline, there is plenty of name calling but little evidence there is late word of a meeting tomorrow between president obama and congressional leaders. the full senate reconvened today. the president ended his vacation in hawaii early, flying back to washington this morning. but he made no public statements. if there is no deal on a budget by new year's day, nearly every american will see a tax increase. we have two reports on the stalemate, beginning with nancy cordes on capitol hill. nancy. >> reporter: jeff, democratic aides tell cbs news that senate majority leader harry reid is ready to introduce legislation that would avert the fiscal cliff, but only if he gets assurances from republican leaders that they won't try to block it. that standoff is creating some tension on capitol hill that spilled on to the senate floor today. >> the senate will come to order. >> reporter: in the normally genteel senate, leader reid unleashed a tirade today about house speaker john boehner, accusing him of running a dictatorship in the h
funded by cbs >> it's friday welcome to "cbs this morning," everyone. i'm jeff glor with rebecca jar sis. charlie, gayle and norah are off. there are predictions but little progress in washington with a deadline for the fiscal cliff now just four days away. >> president obama meets later today with congressional leaders in one last effort to make a deal before the deadline. major garrett is at the white house. good morning. >> reporter: good morning, rebecca and jeff. in just a couple of hours at the white house the president meets with all the key congressional leaders, top democrats harry reid and nancy pelosi leading republicans mitch mcconnell and john boehner. no deal can be reached in past without their cooperation. with the meeting comes a glimmer of hope. in the past all the ifisical cliff talks meetings like this have been the least productive of all. whether he meant to or not the senate majority leader may have spoken for a nation exhausted by seemingly endless fiscal cliff negotiations. >> what's going on here? >> reporter: what indeed. president obam
himself with it. captioning funded by cbs >>> welcome to "cbs this morning." i'm jeff glor with rebecca jarvis. huge winter storm is making its final stop in the northeast, after causing damage and travel problems coast to coast. >> more than 35 states have felt the power of the storm since it first hit california sunday. it's now blamed for at least 12 deaths, along with the snow it caused more than 40 tornadoes in the deep south, starting on christmas day, and this morning, northern areas of pennsylvania new york and new england have one to two feet of snow on the ground. nearly 500,000 utility customers have lost power. melina shop row is in new york. >> reporter: as the snow continues to fall authorities are urging motorists stay off of the roads. with about a foot of snow already on the ground we're seeing how big and powerful this snowstorm has been. from california to new york the fast-moving storm system that began over the weekend completed its cross-country trek in the northeast, enveloping state after state and heavy snow. >> that's pretty rough. the wet sno
parting words. we'll go live to jeff flock. he is at an oil remeanry with a first-hand look what is driving trading and the prices that we pay. and up next, we get you ready to travel. travelocity senior editor let's us in on details of new deals for new year's eve and hot spots for the new year >> i'm here with your fox business brief. the dow was down triple digits after senate majority leader harry reid said that the u.s. is poised to tumble over the fiscal cliff but there was a late-day turnaround on the news that the house will hold a special session on sunday night. >>> directv customers can expect to pay more for their programing packages in 2013. the satellite cable provider is planning to hike prices by an average of 4 1/2% starting february 7th, citing higher programing costs and expects to pay it. v channel owners next year. >>> amazon.com is the place to go for online shopping this holiday season. according to a new survey from forse amazon took the top spot thanks in part to its wide variety of merchandise and its user-friendly site. that's the latest from fox biz is
42 degrees. >> all right. we'll take it. >> time now to check in with jeff newman to see how things are moving along on the roads. >> good morning. it is docile and mellow and soporific. i'll pull out my thesaurus and see what other words i can give you. heading over to the wilson bridge from alexandria around the outer loop into prince george's county, no problems to report. again, not expecting a very busy rush hour this morning into prince george's county. same situation as you head around towards landover and to the top side of the play. heading down from gaithersburg and rockville down to the split, your travel lanes are open. in bethesda, traveling southbound on wisconsin avenue o355 just before cedar lane, you are reduced to one lane. your right lane gets by as the crews are working on the water main break and that will last reportedly well into this morning's rush hour. that's a check of your fox 5 on-time traffic. traffic. >> thank you, jeff. >>> in the developing fiscal cliff negotiations with the clock sticking, top lawmakers are being called to the white house today. it
will go to jeff flock for that. jeff. jeff: as we speak, gm executives, that is who you are looking at right now, they are talking about the new chevy silverado. if you look at the pictures of this, there was a huge explosion as a new chevy silverado pickup was unveiled to the public. it is the number one selling vehicle for gm. this is where this thing went off. they set off an explosion down here. they are hoping for and explosion of sales. we talked to the president, for gm and he said even if we go off of it gm can still make money. we can flex and make a lot of money at fiscal cliff levels. we do not think that we need to. jeff: what do you do immediately >> we take a look at different car lines. we look at where the strength is and could be. then we look at the pent up demand. jeff: this is the silverado. they already have some kind of inventory. mark reuss said they have increased incentives. they are selling pickups. if we do not go off the cliff, they are extremely well-positioned. connell: jeff, thank you, as always. we will go back to washington for the speaker of the hou
accident? kind of a black box tore cars? it cosave money and lives but what about privacy issues? jeff flock has the story. he is live from the streets of chicago. jeff? >> some people like the idea, david, some don't of the you're looking live, by the way, lakeshore drive headed to downtown chicago. we'll have both sides of this issue. it is complicated. stay tuned. it is very interesting and you may be getting a black box whether you like it or not. stay tuned. how do traders using technical analysis streamline their process? at fidelity, we do it by mging two tools into one. combining your customized arts with leadi-edge analysis tools from recognia so you can quickly spot key trends we like this idea so much that we've applied f a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovave reason serious investors are choosing fidelity. now get 200 free trades when you open an account. your soups are so awesomely delicious my husband and i can'stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... w
have fallen off a cliff. off a fiscal cliff perhaps. well, let's go to jeff flock who is at the exxonmobile refinery in illinois. i was going to mention the name of the town, but i will let you do that, jeff. jeff: a little small town outside joliet. you're looking right now actually at something you don't often see at refiners but sometimes do, it's called flaring. it is when a refinery goes back on-line after an unplanned shutdown, they have to burn off some dangerous gases, they have to report that to the federal government because it's a potentially dangerous situation. but that danger is nothing like the danger to the oil market from the fiscal cliff. take a look sat oil today -- take a look at oil today, pulled back a little bit after the big run up yesterday. and the run up yesterday i think wasn't so much fiscal cliff, it was more mideast action, but the story really isn't so much actually price. it is volume, the lack of volume. because of the fiscal cliff, huge amounts of oil money on the side lines right now. take a look at volumes. we ran these numbers and
workers. you can probably guess number one. we have the list. and he is never rude, jeff flock is looking at what it means for your paycheck as we go over this cleft. jeff: take a look at all of these people right here. they are on the line with employers, small businesses, all around the country right now. big story coming up will be come back. and lots of answers. ♪ dagen: it is time to reflect on all you have accomplished. congress is the most unproductive session since the late 1940s. president obama has signed 290 bills passed by congress this year. this compares to 383 bills passed last year. his approval rating currently stands at a nice round that 18% according to politics average. from the youth list to the downright e'en, a survey from airfare revealed that flyers found -- nearly 25% of the vote. united airlines coming in second with 21% and followed by alta and u.s. airways. the social network suspending its new year's eve messaging tool. it allowed them to read the messages of private users. diane, a big raise. >> that is right. we are watching netflix shares very closely. t
numbers. on the technical side abigail doolittle, equity strategist and jeff kilberg, our founder and ceo at kkm financial. good to see you both. welcome. abigail, you've been bearish on apple for a while. does it mean you like nokia instead? tell us what you think. >> apple continues to look very bearish to me. it's trading in a confirmed double top. this pattern has been confirmed for more than a week now. it's careying a target of 353 so apple could actually tumble another 30% from here. supporting that double top, the fact that it's a very reliable pattern once confirm. a recent death cross suggests that the selling momentum has increased. plus, there are unfilled caps, gaps, down near 331 and 431, excuse me and 386. overall i think that app continues to look very strong on the downside target. nokia, on the other hand, is trading on the inverse of that entire pattern setup. trading in a confirmed double bottom this. pattern has been confirmed for almost a month now. the target is 515 so 30% potential upside from current levels. nice golden cross. plus, there's an unfilled gap at 5. s
in those parts. the weather is also wreaking havoc on commodity prices. here is jeff flock with more on that. jeff: good news on the drought front. that is exactly what they need is that kind of moisture. take a look at the pictures. we have been worried here. i am in the oke. right now. >> it really helps the wheat market. we will expect to have a better crop. jeff: and helps with the situation on the mississippi river. you can get shipments up and down. >> all of that really plays into it. jeff: you said this market is pretty thin right now. >> a lot of money on the sidelines with what is happening in washington, d.c. the fiscal cliff has everyone worried. jeff: virginia, always appreciate your insight. thank you. a lot of people talking today. also, about the merger. even though it is competition here, it also is an acknowledgment. they must have been doing something right here in chicago all along. connell: every time you think about futures and trading floors and what it means for human beings, yes, it is a big story. jeff flock, thank you. as we continue, the other big things c
of interviews with retired senators roll on. my conversation with jeff binghamton about why he wants to change the senate's rules and his own changing views on issues like same-sex marriage. you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. that's what may help lower your cholesterol and -- well that's easy oh, let me guess --ou see this? more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> well, it's not just a fiscal cliff that looms at the end of the year. a number of washington veterans are packing up their offices and they're not
to bring these jobs back. >> what do you think about jeff immelt's article where he says i'm bringing jobs back to america makes more economic sense. >> he was bringing jobs back to america. i wasn't prepared for this quiz this morning. i can tell you from memory, he brought a bunch of jobs back in lexington, kentucky. >> he is stoned. >> get lexington, kentucky out. >> do you feel like we do? we're going to kick out with frampton after he's done with this answer. >> he brought back a bunch of jobs at lexington, kentucky but at much lower wages. >> what kind? >> it was appliance jobs. >> they have the huge apply hans city down there and all these massive buildings and their own zip code and one building after another closed down. he's starting up one assembly line after another. are they going to get paid $30 an hour? no. >> here's the point. how do you have a ro best recovery when you have wage compression, people who made $30 an hour making $14 an hour. how do you grow an economy like that. >> the point is do we want these jobs building in germany or alabama. want them in lexington, kent
. taking a look at oil. something we do not like to see if you drive a car. jeff flock has a very latest on this. jeff: a slow day at the cme. this is the euro dollar option pits. though oil. is very active. let's put up wti to start with. up over two dollars, up over $90 right now. just short of two dollars. you think, oh, do they know something about the fiscal cliff? not that at all. it is actually action in the middle east. reports of military exercises have commenced. military exercises in there and later in the week more military exercises. brent is off as well. heating oils are up. everything is up. even on a slow day here at the cme in chicago. dagen: good to see you, jeff. jeff flock reporting. thank you. the pentagon planning to deal with half a trillion dollars in budget cuts thanks to the looming cliff. gun sales rising over concerns of tighter gun control laws. we can find some winners in the stock market. here are some of those on the s&p. ♪ she knows you like no one else. and you wouldn't have it any other way. but your erectile dysfunction - you know, that could be a qu
this break. first, take a look at metals. we are back after this. ♪ two. lori: jeff flock in the pits of this cme. jeff: we have a number of factors running today. i don't think any of them have to do with the fiscal cliff. you can see for your self the volume. there is tumbleweeds going through the pits. i will show you reasons why oil is off today. they all have to do with the middle east. suspended production with baghdad over prices. iran, to prices of military exercises. military exercises starting there today. that makes the oil market very jittery. you can see a little thin here. everything from wti to brent to gasoline futures to heating oil futures. we have a lot of cold weather coming in. a much more need for heating oil and the like. i didn't hear in that ad room. trading volume is light. tracy: so cool. jeff flock, thank you for doing that for us. [talking over each other] lori: as we do every 15 minutes, we chuckled the markets. nicole petallides on the floor of the new york stock exchange. nicole: a lot of down arrows. zynga is really bucking the trend. it is up 3.25%. i
. senator jeff merkley, a democrat from oregon is trying to change that. he's got a proposal to force talking filibusters in the senate. it wouldn't change what i think is a central part in the senate, the 60-vote super majority, but it would make the filibuster into something that the minority had to put some effort into using. you have to want it. now, so i want to be clear on merkley's proposal. if it passed, the minority could still filibuster anything they wanted. they couldn't subject almost everything to the same 60-society challenge we have now. all they would have to do is talk. tell the american people why. and they probably wouldn't even have to do that that much, because the majority can't just let them talk all the time, they have to let them get stuff done. but even that modest reform is too much for many senators. "the huffington post" reports that a bipartisan group of lawmakers led by herman cain and levin are proposing a counter proposal that does even less. it would eliminate some redundant opportunities to filibuster. give quicker consideration to some nominations,
weeks left from the fall of the fiscal cliff. jeff flock is live with a companies ceo. always try to give you a unique perspective. this is mr. transmission. one of the franchises. these are small businesses all around the country that are now having to prepare for the potential of huge tax increases as we go forward. >> yes. yes. we are preparing. we will be looking at what we need to pull back on with some things that we actually would have spent money on. you are already putting aside money to pay the additional tax bill. yes. we are in the middle of budgeting. we will be moving was dollars they do not make a ton of money. people think that any business makes a lot of money. >> we do not. most of our facilities make about a half a million a year. jeff: when speaker boehner says let's have the tax hike hits at more than 250, what does that mean for you? >> there are some small businesses that maybe go over that small marker. jeff: that could make a huge difference. that takes a lot of people, small businesses like this one out of the picture. lori: interesting thought. jeff floc
it is cheap. >> let's go to jeff in new jersey. >> jim, mark west energy is nearly down 5% this week. should i add and worry about their chronic secondary offer? >> i like we and then it sprung up and this is no kmp. let's go to josh in massachusetts. i'm going to give you stop confusing me. happy hanukkah. and merry christmas to you. >> thank you. >> my company is jeers logic. i love them and i know they are in bed with apple. and how do you feel? >> it has had such a big move. if i want to own an apple play, i'm going to stick with apple. let's go to mark in wisconsin. >> jim, thank you for taking my call. your thoughts on parker drilling. >> no no no no no we don't need parker drilling. let it come up and ka ching. i like to go with slob. how about jeff in illinois? >> happy holidays jim. thank you for taking my call. i have been wlhistling to the g agriculture sector. >> those are both good companies. right now i prefer montana a little bit. but those are biotech companies that are seed companies. i'm not done. i'm going to phillip in arizona. >> hi jim, what do you think of alcoa at this
advisors and steven gil garcetg and our own jeff cox. no encouraging words out of washington, here we go again, from either the fed or congress. >> right, and frankly that's very expected. there's going to be a -- some grandstanding about your political philosophies right up until the end, but the way i view this is we will not and cannot go over the fiscal cliff. >> you think the can will be kicked down the road. >> well, i think washington learned its lessons from the credit crisis. they are not going to have this go over the cliff, and i think it's going to be a recipe of a small part of cutting spending. a small part of raising taxes and a healthy doze of kicking the gan down the road. >> you would be so sure that these guys cannot do it when in fact here we are 18 days away. steve sax from your standpoint in, terms of etfs and in terms of indexing out there, how do you want to invest given all of these uncertainties as we approach year end? >> i'm in the camp i certainly hope we can avoid the fiscal cliff, but right now i don't have a lot of confidence. we're still seeing a lot of f
in washington. raymond james says he's expecting the santa claus rally. jeff is with me now also dean from barclay's, peter anderson and our own rick santelli. jeff, how can this market rally when there's still so much uncertainty out there? >> i am surprised the market held up as well as it did today, maria. it had every reason to be down four or 500 points. historically, the week after christmas it's up about 70% of the time with a little over a percent gain. and i think you're going to see that after tax selling gets over as of today. and in terms of the selling that we are seeing already, do you think it's partly because people are expecting capital gains and dividend taxes to go up regardless? >> yeah, i think that's right. there's still a chance for a solution to the fiscal cliff. washington tends to work on a last-minute basis. the fact that the republicans couldn't even get together and chose some kind of solidarity even though they knew the plan b wouldn't go through is disturbing. >> dean mackey, how do you see 2013? >> the positive thing right now sthot consumer spending was pic
the conditions are terrible. >>> all right, let's bring bring in jeff for the weather, what is the latest on the storms? >> it's in the earn part of the country. we're expecting the severe weather threat to shift to the east today. i want to punch this full so you can see it. that's where the shrms are, on the northern and western side of this storm we have a raging blizzard. we're expecting almost a foot of snow there, and snow is now moving into northern parts of virginia. >> what about into the rest of the week? >> this storm will start to translate northeast ward and will be a headache for most of the earn half of the country. first things first, let's talk about the severe weather today. today, it's in earn parts of georgia, north carolina south carolina, and there is a moderate risk for severe weather. that means we could see tornadoes in this area once again. as far as snowfall that strip of blew is between six and 12 inches of snow but it's towards upstate new york with lake enhanced snow one to two feet of snow wind gusts up to 40 miles per hour and a huge
. jeff merkley is right after this. ah, i'm good. ♪ [ male announcer ] every time you say no to a cigarette, you celebrate a little win. nicoderm cq, the patch with time release smart control technology that acts fast and helps control cravings all day long. ♪ quit one day at a time with nicoderm cq. >>> all right, we're talking about the latest in the fiscal cliff or we should say, fiscal curb drama in washington. i want to talk to you, jamelle, about where, maybe, the democratses are coming from others. we were talking about this in the last segment about how the game changes on january 1st. if there's no deal and inaction, there's a lot of leverage it would seem that president obama would have. all the bush era tax rates go away. polls suggest republicans will be blamed more than democrats with if we go over the curb so to speak. is there a real incentive here for democrats to say, let's just not make a deal today? >> i think the only incentives for democrats not to make a deal, to wait for us to go over the curb, to wait for us to repeal the bush tax cuts or moving i
's stay with oil. we will bring in our very own jeff flock. what are you watching out there? jeff: we were at the cme yesterday. talk about what the impact of the fiscal cliff has done to the oil market. take a look at oil prices today. since christmas, we are up about 3%. take a look at the volume. if you look at the volume of trading, and "wall street journal" was onto this first talking about the falloff of volume in november, but it has really continued. take a look at what the normal average volume is and where we are today. by the way, out at the exxon mobil refinery, and caught this caught by the way, is one of the nation's newest refineries. a little news out here as we speak today. they have to report this to the federal government because -- liz: we are having some technical difficulties with jeff flock. working on a solution to the debt crisis. first, some of today's winners, s&p. ♪ >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us.
in this economy on the vital few, the jeff bezoses, steve jobs, fred smiths of fedex. those are top earners people willing to take a risk on a new idea and on a new company that improves our lives and employs this. why would republicans vote for something that takes aim at the most productive? it would not be good for the economy. again it would be a very large tags increase precisely because the top earners pay vast majority of federal revenues. ashley: talking about the voters, people of this country, there is some interesting messages. we have president obama reelected. but then republicans hang onto the house. what kind of message does that send to the law makers? >> i think that sends a very clear message that the voters basically said we want divided government. we'll let president obama have a second term but we want the republicans who control the house and that's where tax, tax legislation originates, to basically hold the line on taxes. so i feel like the elector rate made it clear that republicans you're job to protect us from economy-strangling tags increases. this is very quick path f
capital. good to see you. jeff, make the case. you're looking at the charts. how do you like ups versus fedex? >> maria, i think you have to look at the longer-term chart, and if you look at the ten-year period, the true leader is federal express. it's up 76% versus the 24% that ups is. that's where you find the leaders. now let's take a closer look and look at the micro view of this chart, and we go to the year to date chart, and if you see a year to date, trading within a range, between 84 and 94, and what's going tonight difference. what's going tonight difference to push this to go higher, the catalyst, right. we wanted to see it go above $94 a share and the catalyst is going tonight international markets. we've seen some clarity over there, and you've seen a really -- fedex's international numbers have to increase, and that's the catalyst right there. >> jeff, they are both international. it depends on where you want to play. i like ups better because it's got a 3% yield versus a less than 1%. i think about half a percent yelled for fedex and still in a low return environment. if y
appointment. so now some democrats led by oregon senator jeff americaly are saying it's time to reform the senate rules themselves when the new congress convenes next month, they want to stop filibuster abuse by actually making senators talk on the senate floor when they want to filibuster. now, that didn't sit well with republican minority leader mitch mcconnell. >> what the majority leader is saying is he will break the rules of the senate in order to change the rules of the senate. i implore members on both sides to oppose this naked power grap grab strenuously and loudly. >> democrats can change the filibuster rules to prevent abuse of power when the new congress is sworn in. 48 democratic senators are on board with the rule change. but why is it so hard for democrats to summon these last few remaining votes? let's ask the man himself, the man leading the charge, oregon senator jeff americaly. thanks for being here. >> thank you. it's great to be here. >> you've got this plan, you've got a lot of senators on board. what exactly would your plan do and why would it deal with this gri
chevy silverado and gmc pickups hoping the new models will drive sales for the auto giant. jeff flock live in pontiac, michigan, with more. >> i'm surrounded by the team that put this together. all these folks you see are the ones who put together the gm sierra and silverado pickup. we talked to mark reuss earlier in the day talking about the fiscal cliff being introduced at a time when the country could be an economic role. telling me he think they will make money even if the nation goes forward over the fiscal cliff. >> we can make a lot of money at fiscal cliff levels, but plans in place to do all that. we don't think we need to. >> what does your internal planning say if you go over? >> we take a look at different car lines by segment and look at where the strike is a and look t the pent-up demand. >> this is a huge vehicle for gm, the best-selling of all gm vehicles. a quick look at what they unveil look like, a really exciting unveil. harkening back the old old days where they blew things up and crash cars through things. a big unveiling for g gm. good luck to them, they will ne
in every new car. by september of 2014. jeff flock is in chicago with more. reporter: actually, we are rolling down the highway of chicago right now. looking for action as we take a live look outside the vehicles. this is an example of the obama administration on being able to get something passed through congress. they are going to spur congress and try to require the black boxes in every new vehicle. before you get set, there are multiple sides to the story. the insurance companies and the automakers -- the transportation department and the safety folks as well as law enforcement, they all like this idea. because believe it or not, when we get into auto crashes, we somehow misreport often what happened. we said we weren't going as fast as we were. we may say that we had her foot on the break when in fact we didn't. a lot of these groups think this is a good idea. of course, privacy advocates do not like it. they are concerned about what the government might do with the data, perhaps using it to track movement. that is not what these data recorders do right now. multiple sides to
consideration, the main way to change the rules comes from oregon democrat jeff merkley. if you want to filibuster, you can't say 60 vote rule, too bad. can't vote on that. you actually have to go down and hold the floor and talk and talk and talk and talk all night and for days and for weeks. you need to work for it. there is merit to this idea. it would make filibusters harder on the minority. it would make them more transparent to the public. it would make them less likely on popular bills, but it wouldn't reverse the transformation of the senate into a place where 60 votes required to get anything done. so there is a proposal that personally i like better. frankly, it's kind of an ingenious proposal. it recognizes that there is general value in protecting the minority's right to be heard. but in order to protect that right, you don't need to make every vote a 60-vote supermajority. this proposal would in one fell swoop end the 60-vote senate, but it would preserve the interests of lengthy debate. the idea doesn't come from outside group or some young radical. it comes from a long
, nearly twice the amount nation-wide. we are all over it. we begin with jeff in the windy city. >> from the heart of the business district downtown chicago is bracing for what is the first big concern step storm of the season. we thought make we would caught in get one but it is headed if us now the biggest population center in the midwest, take a look at the pictures at o'hare where already a mess ensued and tomorrow morning it is worse, already 1,000 flights, more than 1,000 flights, canceled nationwide and most of those already at o'hare. tomorrow morning, it will be awful with gusts of wind up to 50 or 60 miles per hour. i love that kind of weather but it will not be pretty. and what about christmas packages? ups' biggest shipping day of the year already today and that means tomorrow is also a huge day and right in the middle of the country where much of the packages go through is if a mess right now in the airports which are a mess. the package could be delayed. down chicago here right now and we have warm weather, reasonably warm for this time of the career but behind it with the
term for president barack obama. senator jeff murphy will join us to explain why before the senate does anything, it has to reform the fill la buster. and we will look at this debate that has been prompted by the movie "zero dark 30" with professor, author, and emmy award winner. all that starts in just three minutes.
: next up is jeff in pennsylvania on our line for republicans. jeff, you are on the line with the "washington journal." caller: i am in massachusetts, not pennsylvania. i do not think you will get a compromise from anyone unless we go over the cliff. i am a point of getting a big deal done. i am and republican, but obama won. democrats controlled to search. you have to give them a little bit. we are not going to get anything done. he wants to wait another year and revisit this. he already proposed we wait another year. nothing will get done in the next congress if there is another cliff coming up a year from now. let it go over the cliff. if i were a representative for a senator, i would go home so they go into effect forever. we have some trouble with his innocence. let it go over and let all the serious players in congress get a deal done. when people start playing the best paying a lot more money and moving their defense -- start paying a lot more money and moving their defense contracts, people will pay attention. guest: this is the interesting thing to me about the a
.5%. those are some of the day's major stories. now, back to jeff. >> brown: george washington famously described the senate as "the saucer that cools the tea," a body designed to soothe "hot" legislation that emerged from the house of representatives. but as congressional correspondent kwame holman reports, some senators have gotten pretty steamed over a proposed change to how their chamber operates. >> holman: a sign of the holiday season-- the u.s. capitol christmas tree arrived in washington on monday. but behind the festive scene outside, there was a partisan war raging inside on the floor of the senate. the combatants-- democratic majority leader harry reid and republican minority leader mitch mcconnell. >> americans believe congress is broken. once again, the only ones who disagree are mitch mcconnell and the republican party. >> i've never said the senate's working fine. i think the senate's been disastrously run for the last two years. >> the american people know, democrats and republicans, that this place isn't working and there needs to be some changes so that we can proceed
doesn't have that same political problem. >> jeff immelt told me he wanted to move out of china -- i believe ge has shifted resources out of china. >> a lot, especially appliances and low-end goods. but small and medium-sized manufacturers are sick and tired of the corruption, the slowness and all the problems that are so evident -- >> they steal your ideas, counterfeit your products. it really isn't the wonderland of free market capitalism that some people make it out to be. >> no. this is part of a broader narrative of a lot of manufacturers leaving china for vietnam, indonesia, bangladesh, mexico. this is really part of a decades-long trend. >> i have to leave it there. gordon chang, thank you very much. be sure to catch the tim cook interview tonight on "rock center with brian williams." that's at 10:00 p.m. central. >>> the french ought to stick with fine foods because we found out that their 75% tax rate on the rich doesn't work. the economy there is tanking, even worse, same story in britain. why would we want to copy their policies here in the usa? i'll try to get some answer
to do it and whether to do it at all. joining me now democratic senator from oregon, jeff murphy. senator, great to have you on the program. >> thank you, alex. it's great to be with you. >> so we just played some vintage al d'amato footage of one of his many filibusters. when we talk about filibuster reform, one of the things that is suggested in terms of reform is bringing back the talking filibuster, but i guess i ask you as someone who is leading the charge on this, is that going to actually help things in the senate, or does this give senators more opportunities to grandstand in front of cameras? >> listen, they can grandstand all they want right now, so that's already a privilege they have. unfortunately, what the minority has decided to do is to utilize the filibuster, which actually is just an objection to going to a final vote, so it's a quiet objection. it's not on the floor. no speeches are required. never have been required. it used to be people wanted to take responsibility for their obstruction because they understood that a majority -- a simple majority vote is a k
former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this afternoon that put a damper on that real. we've lost about 30 points. in that time. up 74 on the dow at 13,244. the nasdaq is doing well today, up 32 points. more than a 1% gain, although it is off its highs of the day at 3019, and the s&p 500 index is 8 plus points at 1426. the word on the street is because of the fiscal cliff, some investors are actually selling the winners, the winning stocks, and they are holding on to the poor performers, the opposite what have they have been doing the last few years. maria? >> makes a lot of sense given the fact that tax les go higher on capital gains. you want to get out of some of those names. let's find out how you should be investing 20 days away from the deadline. in today's "closing bell" exchange, carol roth with us, rich peterson from is & p, jonathan corpina from meridian equity partn
to a single telemarketing firm which just happens to have been founded by current rnc chief of staff jeff larson. >> it's sort of a closed loop world here where -- >> unbelievable. >> you have people working for the party but they have side contracts with the party and then no matter what happens, no matter the fortunes of the candidates, for the senate or congress or even presidentially, the folks who have the deals, they always end up coming out on top, win or lose. >> right. and karen, no less a conservative than bill krystal is writing about this now. he says of his own party, quote, the conservative movement is in deep disarray. it may be that major parts of american conservatism have become such a racket that a kind of refounding of the movement as a cause is necessary. it is a racket when you have a serial adulterer like newt gingrich and you have got a criminally wrong dick morris still in the racket still making millions. >> but they're the party of family values, what do you mean? >> sorry. they're making millions. >> absolutely, they are making millions, and the thing is they'r
fundamentals? >> joining us right now to weigh in on cnbc contribute richard bernstein and jeff tanose of jpmorgan and our own bob pisani. gentlemen, thanks for joining us. rich, what do you think about fundamentals going into 2013, corporate sector, economics? >> i'm actually quite bullish about 2013. i think we're going to start getting, as the year goes on, easier comparisons for corporate profits. the corporate sector as we know is loaded for cash. i think when we get beyond this uncertainty and corporations have more certainty, i think we're going to see an m & a wave because they have underinvestmented for the future by hoarding all the cash so i think they will have to buy growth so i think 2013 could be a very good career. >> what do you think, joe? >> i agree. everything we've been dealing with the past year has been the uncertainty. is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this
to tax hikes of any kind. after today's party caucus, arizona congressman jeff flake, about to move to the senate, said he is withholding judgment until he sees more specifics. >> we've got to have more cuts than the president is proposing or that's been discussed here. >> woodruff: but retiring ohio congressman steve la tourette predicted that in the end most could live with higer tax rate if they are part of a broader package. >> if i had to say where most of the votes are today, most will accept an increase in tax rates but they really want a way forward on how we're going to get the rest of the government under control. >> woodruff: but the only real certainty appeared to be that lawmakers will be back in washington right after christmas if there's to be any deal before the new year's deadline. and to two reporters who've been closely watching this story. todd zwilch covers congress or pubc radio international's "thtakeawayon wnyc. and carol lee of the "wall street journal" joins us from the white house. thank you both for talking to us. carol, i'm going to start with you. from
is shopping. you just saw the updated numbers that came out this morning. >> well, jeff, yes, i'll concede its most recent quarter was not profitable, but it's been a profitable company. not nearly as much as a lot of folks would see and there's a reason. they have been taking market share and doing it in the cloud. use the cloud streaming services of amazon which is indicative of what an important player amazon is becoming in that field as well. it's an expensive stock. you're paying an astronomical p and still a dominant player in e-commerce and one of the new areas where it's dominant is the iphone this year. >> two companies we've been following very closely this year. thanks for joining us on "talking numbers." see you later. happy holidays. mandy? >> a quick look at what's happening with the markets right now. the do you is just hitting flat with the down side barely moving at this point. of course, we're counting down to the bell. also got aetna's ceo who says his hiring plans for the new year will definitely be affected by the fiscal cliff, and get this, he also says health care costs
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